Global energy consultancy Xodus has acquired Daymark Energy Advisors to expand its power networks capabilities across international energy transition projects.
The power networks market is set for growth as electrification will require significant upgrades to networks around the world. The transmission and distribution (T&D) of electricity from source to demand is critical to the commercial success of energy transition projects.
The acquisition of Daymark will allow Xodus to advise on projects from generation to demand. The additional capability, alongside Xodus’ advisory and engineering expertise, will allow integrated advice on technical challenges, regulatory frameworks and the market pricing dynamics associated with T&D.
The acquisition also bolsters Xodus’ advisory capability and energy transition offering. This will include battery storage and onshore wind and solar, whilst also providing a critical differentiator in other transition fields, such as sustainable aviation fuels (SAF).
Steve Swindell, CEO of Xodus said: 'Xodus was founded 20 years ago to deliver independent, integrated thinking to the energy industry. The energy landscape has evolved beyond recognition in that time and the needs of the industry have changed. Xodus wants to continue to be at the forefront of delivering integrated advice to the industry and acquiring Daymark Energy Advisors supports this effort.
'Our involvement in energy transition projects has grown considerably, with many developments either delivering electrons to the grid or drawing upon power from the grid / local power source in the production of hydrogen or the storage of carbon. Daymark brings deep knowledge and an integrated view of energy infrastructure, regulation, and markets to help clients succeed in the face of uncertainty and transformative change. This acquisition will combine our expertise to offer clients more complete solutions to the challenges they face and the questions they have about this growing, global market.'
The acquisition will add to Xodus’ existing operations in Houston and Boston with Daymark’s team working across the US and Canada.
Marc Montalvo, Daymark’s CEO added: 'Xodus has a long track record of activities in the global offshore wind, oil and gas, cables, and interconnectors sectors as well as CCUS and hydrogen. Both parties bring different - but complementary - knowledge and skillsets to the energy market and infrastructure project consultancy.
'We have a 45-year history in delivering strategic advice and expert opinion to senior teams across North America and look forward to implementing this with Xodus going forward. We are known for combining rigorous analytical methodology with knowledge of ISO operations and market rules, transmission planning, state and federal policies, and regulatory and rate structures, to provide comprehensive solutions that address client needs. Our blended expertise will offer more complete solutions to industry challenges.'
Daymark will initially work independently following the acquisition at the beginning of March 2025 but is expected to integrate and be fully Xodus in the future.
Source: Xodus
